Tax Return Checklist

Tax Return Checklist

The following is a checklist for information required to prepare income tax returns for this year. Please ensure that you review the
checklist and have all information available when completing your tax returns.

2019 Individual Tax Returns

Details of any non-cash benefits received including discount(s) on employee shares or rights.

Lump sum and termination payments. All documentation should be provided including an ETP Payment Summary from the employer or fund.

Government Social Security payments, including pensions, unemployment and sickness benefits.

Details of any CGT asset sales (e.g. shares and real estate). Please include dates of, and costs associated with, acquisition and disposal.
(You can save tax if you qualify for the variety of CGT concessions).

Annuities, including allocated pensions or superannuation income streams.

Income from trusts and partnerships. Statements of distribution should be provided where appropriate.

Rental income.

Interest and dividends received and any tax deducted. Include details of franked dividends (imputation credits).

Foreign source (employment and pension) income and details of any foreign tax credits.

Details of superannuation contributions where no tax deduction can be claimed.

Any changes in dependents including children’s details, dates of birth and any Centrelink benefits applicable. The income of your
spouse also needs to be provided.

Details of any income received in a lump sum which was accrued in earlier income years (e.g. assessable pensions).

Details of any remote work performed for 183 days or more.

Note: The net family medical expenses tax offset is being phased out and for 2018/19 is restricted to net eligible expenses for disability
aids, attendant care or aged care and will cease June 30, 2019 altogether.

Companies, Partnerships, Trusts and Other Businesses

Stock on Hand at 30 June 2019 (and basis of valuation) – note any obsolete stock.

Work-in-Progress at 30 June 2019.

Primary Producer subsidies (if assessable).

Details of CGT assets (e.g. shares and real estate) sold, including dates of, and costs associated with acquisition and disposal.

Dividends, including details of franking credits.

Income from foreign sources including details of any foreign taxes paid.

Deductions

Repairs and maintenance.

Salaries, including fringe benefits.

Fringe benefits tax paid.

Rates, land taxes and insurance premiums.

Advertising expenses.

Interest on borrowed monies.

Deductions relating to foreign source income.

Prepaid expenses (subject to transitional rules).

Retirement payments and golden handshakes.

Bad debts actually written off during the year.

Donations of $2 and over depending on the recipient.

Commissions.

Legal expenses.

Lease or Chattel Mortgage payments on motor vehicles and equipment.

Losses of previous years (or intra-group transfers).

Superannuation contributions.

Subscriptions.

Car expenses (remember to include petrol, repairs and parking and maintain a log book where necessary).

Tax agent’s fees and other accounting and tax audit fees.

Royalties paid.

Details of the destination and purpose of any interstate or overseas trip. Expenses must be fully documented where travel involves at least
one night away from home. Travel diaries should be included where travel exceeds five nights within Australia or any overseas travel.

Research and development expenditure.

Bank fees (where the credit or deposit represents assessable income).

Start-up costs for a new business.

Liabilities

New loans taken out during the year and their purpose, including any new lease or chattel mortgage agreements.

Statements from the lending authority detailing the opening and closing balances of existing loans during the financial year.

Provisions for long service and annual leave.

Creditors at 30 June, 2019.

Details of loan accounts to directors, shareholders, beneficiaries and partners.

Accrued expenses (e.g. audit fees, interest payments).

Commercial debts forgiven.

Assets

Details of depreciable assets acquired and/or disposed of during this income year, including:

type of asset;

date of acquisition

consideration received/paid

Lease commitments.

Debtors at 30 June 2019.

Commercial debts forgiven.

Additional Information

Franking account details/movements.

Overseas transactions, exchange gains/losses.

Private companies – remuneration or loans to directors, shareholders and their relatives.

Changes to the capital of the company.

Whether family trust elections have been made in relation to trusts.

Note: To ensure that you obtain the maximum deductions to which you are entitled and in consideration of the penalty provisions. FULL
DETAILS of any claim should be provided and supporting documentation made available. For employee taxpayers and for travel and motor vehicle
claims by self-employed taxpayers, documentation must be a receipt, tax invoice or similar document, which contains certain details. For
other taxpayers, documentation may comprise receipts, dockets, diary notations or reasonable and supporting estimates.

IMPORTANT DISCLAIMER: This document contains general advice only and is prepared without taking into account your
particular objectives, financial circumstances and needs. The information provided is not a substitute for legal, tax and financial
product advice. Before making any decision based on this information, you should speak to a licensed financial advisor who should
assess its relevance to your individual circumstances. While the firm believes the information is accurate, no warranty is given as to
its accuracy and persons who rely on this information do so at their own risk. The information provided in this bulletin is not
considered financial product advice for the purposes of the Corporations Act 2001.